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Possible Bearish Inside Day Candle Pattern Detected for News Corp-Cl A (NASDAQ:NWSA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in News Corp-Cl A (NASDAQ:NWSA) based on the price action in the company's shares. Today's price range of $12.75 and $12.75 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of News Corp-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

News Corporation is a media and information services company. The Company's business is comprised of news and information, book publishing, digital real estate, and cable network programming services. News serves customers globally.

News Corp-Cl A has overhead space with shares priced $12.75, or 26.5% below the average consensus analyst price target of $17.34. News Corp-Cl A shares should encounter resistance at the 200-day moving average (MA) of $13.42 and support at the 50-day MA of $12.69.

In the past 52 weeks, News Corp-Cl A share prices have been bracketed by a low of $10.65 and a high of $16.65 and are now at $12.75, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of News Corp-Cl A on January 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.37. Since that recommendation, shares of News Corp-Cl A have risen 3.9%. We continue to monitor NWSA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle news corp-cl a

Ticker(s): NWSA